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Australia's competition watchdog announces updates to information-gathering powers

( June 27, 2019, 02:22 GMT | Official Statement) -- MLex Summary: Companies in Australia face new information-gathering powers from the country's competition regulator after the Australian Competition & Consumer Commission updated measures to cover investigations where the regulator suspects breaches of laws preventing unfair contracts. Last financial year, which runs in Australia from July 1 through June 31, the ACCC issued 240 notices under its information-gathering powers, which form part of Australia's Competition and Consumer Act. Refusal or failure to comply with the information notice by a due date is a criminal offence, which can include fines of up to A$21,000  ($15,000) and two years in prison.Full ACCC newsletter follows: ...

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